Stocks appear to gain on missed wages, oil surges after cyberattack – fr

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Stocks appear to gain on missed wages, oil surges after cyberattack – fr


Stocks rose on Monday amid speculation that interest rates will remain low for an extended period due to decreasing risk of rapidly accelerating inflation, while oil prices surged after a cyberattack on an American pipeline operator in confused markets.

The largest MSCI index of Asia-Pacific stocks outside of Japan (.MIAPJ0000PUS) rose 0.49%

Japanese Nikkei futures rose 0.03%. Australian S & P / ASX 200 futures fell 0.06%. US equity futures rose 0.12%.

Non-farm payroll data in the United States on Friday showed job growth unexpectedly slowed in April, boosting equities but putting downward pressure on dollar yields. and US Treasury bills.

Oil futures extended their gains after a cyberattack terminated a U.S. pipeline operator that supplies nearly half of the U.S. east coast’s fuel supply.

“It certainly pushes the Fed’s cutback schedule, perhaps until December from earlier expectations from the Jackson Hole Symposium in late August,” wrote Chris Weston, head of research at broker Pepperstone in Melbourne, in a note.

“A softer payroll is good for reflationary trading; the dollar weakened across the currency spectrum. We have also seen strong supply on equity indices and futures are on the rise. “

The Dow Jones Industrial Average (.DJI) and S&P 500 (.SPX) hit record closing highs on Friday after disappointing U.S. labor market data allayed fears of a surge in prices to the consumption. Read more

The dollar index (.DXY), which tracks the greenback against a basket of six currencies, fell 0.09% to 90.15.

Spot gold prices rose 0.15% to $ 1,833.31 per ounce.

The benchmark 10-year Treasury yield stabilized at 1.5824% in Asia on Monday after plunging to a two-month low of 1.4690% on Friday.

West Texas Intermediate crude futures rose 0.89% to $ 65.48 a barrel, while Brent crude rose 0.94% to $ 68.92 in Asian trading as the disruption of US supplies rocked the energy markets.

On Sunday, the White House is working closely with the main U.S. fuel pipeline operator Colonial Pipeline to help it recover from a ransomware attack that forced the company to shut down its main fuel lines. Read more

Our Standards: Thomson Reuters Trust Principles.

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